During a meeting chaired by Commerce Secretary it was observed that the prices of certain daily commodities have increased at a faster rate in the global market compared to the domestic market, while for some products, the prices have decreased globally but remained unchanged locally. The report presented at the meeting highlighted policy weaknesses in commodity market management and identified factors such as the increase in the value of the US dollar and the ongoing dollar crisis as contributors to these price disparities.
Specific examples were discussed, including the price changes of wheat, onions, lentils, sugar, ginger, and edible oil in both markets. Importers faced challenges in obtaining sufficient dollars, and delayed discharge of goods and high import duties affected the market. The report also pointed out the lack of competition, inadequate market surveillance, and shortcomings in the Trading Corporation of Bangladesh’s role. Recommendations were made to address these issues and consumer rights organizations called for government intervention in creating a competitive market for daily commodities.
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